Bits of Stock™: Boost Interchange Revenue with Stock Rewards

Banno Implementation Guide

Welcome to the Bits of Stock Partner Implementation Guide for Banno. This guide provides a step-by-step framework for launching your rewards and engagement program with Bits of Stock.

Initial program set-up

Our first step is to define how the program will function for your account holders. We will do the initial setup based on your requirements so that it is ready for integration to your product. Send us an email with the following information:

What to send

What is this?

Premium plan price

This is the price per month account holders will pay to be on the premium plan (we recommend $5.99)

Reward percentage value

This is the percentage that account holders will be rewarded with through Stock Rewards for each transaction (we recommend 2.5%)

Redemption threshold value

This is the value of rewards that are needed before the rewards can be redeemed to their portfolio (we recommend $5.00)

Rewards cap value

This is how many rewards can be gained per month (we recommend $20.00)

9 additional stocks

In addition to SPY (S&P 500 Index ETF) you may choose 9 stocks to make up the 10 stocks available to account holders to fund through the Stock rewards and Round-ups programs.

A file representative of transaction descriptions

and/or

These orient our system to how your transactions appear allowing us to map how the Round-ups and Stock rewards programs function. You only need to send us one, but both are helpful.

If you have additional questions or requests please contact us so that we can help you address them. After you send us this information we will get your partner account set up.

Fund the Partner House Account

Now that we have your initial set-up complete we need to fund your house account, which is what is used to fund the Stock Rewards program. These funds are held with our clearing partner and custodian Velox Clearing LLC. There are two funding mehtods you can use:

Funding methods

Wire Transfers are preformed by us, to complete it we will need your banking information including the name and address information.

ACH Transfers are performed by you, to complete it we will need to create a login for you into Velox portal.

To get started send us an email specifying which method you would like to use.

After you send us the request we will send you specific instructions over email illustrating how to complete the funding transfer.

Program personalization

Bits of Stock’s Rewards Investment Platform is set up to be extremely customizable and fit seamlessly in any Online Banking Experience using your brand colors. Our team will handle customizing this for you, to assist us in meeting your expectations please send us the following items/information:

What to send

What is this?

Brand Assets

A theming/style sheet with your logos and primary/secondary/tertiary colors as they are used within your product.

This can include a screenshot of your current product’s environment.

Speed bump activation preference

The speed bump exists to let account holders know when they are entering the Bits of Stock environment. This is an optional feature that you can decide to activate.

Our team will use this information to set up the look and feel of your Bits of Stock environment. Later in testing we will be able to make any tweaks as they are needed to meet your preferences.

Banno Configuration

In this guide, we will be configuring your Bits of Stock integration using Banno People. We will set up the following items:

Main Application
Dashboard Widget
Service Account
Configuration Document for Bits of Stock

Before you start

Ensure you have received the “Bits of Stock Integration Details” document from the Bits of Stock team. This document provides the configuration details used below. The document should look like this:

Field

Value

bits_partner_id

(this should be a string of numbers)

service_account_public_key

(this should be a string of numbers)

In the guide below, fields encapsulated with {{ }} are variables that should be replaced with the fields given in the “Bits of Stock Integration Details” document.

Main Application Set-up

This section guides the set-up of the menu item for Bits of Stock in the left menu. In this section, you will:

Create a new external application (Main)
Store external application details to send to the Bits of Stock team

Configuration Steps

External Application

Open Banno Admin.
Navigate to People > Settings > External Application.
Create a new external application.

Enter the following information:

Name: Bits of Stock - Main
Require PKCE: checked
User consent required: unchecked
Redirect URIs. Please make sure to enter in the following order and to use the provided bits_partner_id given to you by the Bits of Stock team.
<aside> ⚠️
Make sure to use the bits_partner_id provided by the Bits of Stock team in the URI below.
</aside>
- https://graf.bitsofstock.com/v1/oidc/initiate?partner_id=**{{bits_partner_id}}**
  <aside> ⚠️
  This URI must be the first entry in the “Redirect URIs”
  </aside>
- https://secure.bitsofstock.com
- https://secure.bitsofstock.com?defaultSelectedModule=dashboard-widget&layout=singleApp
- https://secure.bitsofstock.com?module=dashboard-widget&layout=singleApp

Save the external application. You will be taken to a list of external applications. Click on the application you just created. You will be shown a screen similar to the following:

Enter the following information:
- Link type: BrokerageTools
- Select the checkboxes for the following claims
  - Accounts with full account numbers
  - Customer Information File (CIF) - Banks
  - Unique customer identifier (CIF or Member Number)
  - User's first name or, if missing, username
  - Theme data
  - Institution routing number
  - Institution details
  - NetTeller ID - Banks
Copy the client_id and client_secret to update the Bits of Stock Integration Configuration Document. The client_secret is sensitive information, so please treat it appropriately.
Save the external application.

Bits of Stock Integration Configuration Document

Use the copied client_id and client secret to update the “External Application - Main” Section of the Bits of Stock Integration Configuration Document (Template)

Dashboard Widget Set-up

This section guides the setup of the dashboard widget that appears on the home screen. In this section, you will:

Create another new External Application (Dashboard Widget)
Store external application details to send to Bits of Stock team
Create a Dashboard Plugin Card

Configuration Steps

External Application

Open Banno Admin.
Navigate to People > Settings > External Application.
Create a new external application.

Enter the following information:
- Name: Bits of Stock - Dashboard Widget
- Require PKCE: checked
- User consent required: unchecked
- Redirect URIs:
  <aside> ⚠️
  Make sure to use the bits_partner_id provided by the Bits of Stock team in the URI below.
  </aside>
  - https://graf.bitsofstock.com/v1/oidc/initiate?module=dashbarod-widget&layout=singleApp&partner_id=**{{bits_partner_id}}**
    <aside> ⚠️
    This URI must be the first entry in “Redirect URIs”
    </aside>
  - https://secure.bitsofstock.com
  - https://secure.bitsofstock.com?defaultSelectedModule=dashboard-widget&layout=singleApp
  - https://secure.bitsofstock.com?module=dashboard-widget&layout=singleApp

Save the external application. You will be taken to a list of external applications. Click on the application you just created. You will be shown a screen similar to the following:

Enter the following information:
- Link type: PluginCard
- Select the checkboxes for the following claims
  - Accounts with full account numbers
  - Customer Information File (CIF) - Banks
  - Unique customer identifier (CIF or Member Number)
  - User's first name or, if missing, username
  - Theme data
  - Institution routing number
  - Institution details
  - NetTeller ID - Banks
Copy the client_id and client_secret to send to Bits of Stock at the end of this guide. The client_secret is sensitive information, so please treat it appropriately.
Save the external application.

Bits of Stock Integration Configuration Document

Use the copied client_id and client secret to update the “External Application - Main” Section of the Bits of Stock Integration Configuration Document (Template)

Plugin

Open Banno People and navigate to People > Settings > Dashboard configuration.
Click “Add an item” and then “Create a plugin.”
Enter the following information:
- Title: Bits of Stock
- Description: Get a quick overview of your Bits of Stock portfolio.
- External Application: Bits of Stock - Dashboard Widget
- Initial height: 436
- Icon: arrow-trend-up
- Available to everyone: false
- Card action
  - Label: {leave blank}
  - External Application: {leave blank}
Save the plugin.

Service Account Set-up

This section guides the setup of the API access used by Bits of Stock to fetch customer/member information and send messages. In this section, you will:

Create an External Application Associated User
Create another new External Application (Service Account)
Store external application details to send to Bits of Stock team

Configuration Steps

Associated user

Open Banno Admin.
Navigate to Users & Groups
Create a new user.
Enter the following information:
- Email: techaccounts@bitsofstock.com
- Title: Bits of Stock Service User
- Select the following permissions:
  - Manage Institution Messages

External Application

Open Banno Admin.
Navigate to Users & Groups.
Create a new external app.
Enter the following information

Bits of Stock Integration Configuration Document

Use the copied client_id to update the “External Application - Service Account” Section of the Bits of Stock Integration Configuration Document (Template)

Send Integration Configuration Document

Once you have completed all steps above, your “Bits of Stock Integration Configuration Document” should have no empty fields. There should be three unique client_ids and two unique client_secrets. Once this is complete. Please send this document to techaccounts@bitsofstock.com via encrypted email. The details contained in the document are sensitive and should not be shared with unauthorized persons.

Testing

Configuration is nearly complete now we just need to run a few test to make sure everything is working from a technical perspective.

guide to test The SSO / sign-in flow from OLB to BoS

Set Terms and Conditions

One of our final steps is to create the compliance documents account holders will need to create their account and make use of our programs. To do this you will need to a to write Program Disclosure (example here):

Standard Disclosure

BITS OF STOCK™ NON-DEPOSIT INVESTMENT PRODUCTS – Bits of Stock investments are not insured by the NCUA/FDIC. They are not a deposit or other obligation of, or guaranteed by, the depository institution. They are subject to investment risks, including possible loss of the principal amount invested. These non-deposit investment products are insured by the SIPC with a total of up to $500,000, including $250,000 in cash.

Example Premium Account Qualifications

Receive {{reward percentage}} back on eligible debit card purchases in the form of Stock Rewards.
Round-ups are available upon activation. Round-ups are funded with the automatically connected checking account.
Earn up to {{reward cap}} in Stock Rewards per month.
Requires connected investment account with partner Bits of Stock; Not insured by the NCUA/FDIC. Not a deposit or other obligation of, or guaranteed by, the depository institution. Subject to investment risks, including possible loss of the principal amount invested. These non-deposit investment products are insured by the SIPC with a total of up to $500,000, including $250,000 in cash.
Available stocks are chosen by {{Your FI Name}} and changes may be made at any time.
If you wish to close the Bits of Stock Investment account or the corresponding checking account, you must inform {{Your FI Name}} . The Bits of Stock Investment account is tied to the checking account and will be closed upon checking account closure.
Rewards will be lost if not redeemed prior to account closing.
(Optional examples of promo materials) Members will receive $10 as a welcome bonus after creating their investment account with Bits of Stock. (or first month free/other promotion)

In addition to this you will need to update Bits of Stocks general T&Cs to Banno EULA, change membership disclosures to be active for all accounts.

Prepare for Launch

Our final step is to review the pre-launch checklist. Once everything here is complete we are good to go live!

Pre-launch Checklist

Implementation Done
Implementation Tested in UAT (optional)
Pilot test in Production
- What to test
  - Processing real transactions
  - Testing the “offer” to only reward eligible transactions
  - Rewards
  - Redemptions
  - Brokerage Creation
  - Portfolio Management
    - Automatic linking of bank account
    - Depositing & Withdrawing Funds
    - Buying & Selling of positions
  - Documents appearing in the Documents Module
All feedback from testing resolved